Nevada Governor Brian Sandoval signed a bill into law this week that legalizes online poker in the absence of federal action. The Nevada Legislature fast-tracked the online gaming bill declaring it an emergency measure taking the bill to the Governor for signature on Thursday.

Both houses of the legislature voted unanimously to pass Assembly Bill 114, and the bill is expected to expand the customer base for Nevada casinos and should bring in a huge influx of cash.

Nevada Governor Brian Sandoval signed Bill 114 after is was fast tracked through the state Legislature. [Image Source: Watchdog]

“We’re going to do it now,” said Assembly Majority Leader William Horne, D-Las Vegas. “We’re going to beat New Jersey.”

Nevada is in a competition with New Jersey to become the country's online gaming hub. New Jersey Governor Chris Christie vetoed a bill passed by his state legislature previously, but is expected to sign an amended bill next week.

“This is good-natured competition,” said Pete Ernaut, lobbyist for the Nevada Resort Association, in reference to New Jersey. “If we get there first, fantastic. If we get there within 24 to 48 hours, it’s not a big deal.”

New Jersey Governor Chris Christie is rushing to put his state on equal footing with Nevada in online gambling. [Image Source: Getty Images]

One reason the bill is able to move forward so quickly was due to a compromise allowing the Nevada Gaming Commission to double the $500,000 online poker license fee to $1 million in certain circumstances.

Another caveat in the bill bans companies that illegally participated in online gaming between 2006 and 2011 for a period of five years.

Yes, and we want to keep it that way. It will always however, be an uphill battle to maintain freedom; with it always and inevitably eventually being usurped by stupid, stupid people who never recognize the signs of its deterioration.

"We are going to continue to work with them to make sure they understand the reality of the Internet. A lot of these people don't have Ph.Ds, and they don't have a degree in computer science." -- RIM co-CEO Michael Lazaridis